Business Automation and Software Blog

New 1099 Rules Affect 2012 Business Reporting

Posted by Robert Baran on Wed, Jan 26, 2011 @ 03:16 PM

An all-but-overlooked provision of the health reform law is threatening to swamp U.S. businesses with a flood of new business reporting tax paperwork. Section 9006 of the health care bill -- just a few lines buried in the 2,409-page document -- mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

Read More

Topics: Business Reporting, Tax Rules